<DOCUMENT>
<TYPE>EX-10.3(H)
<SEQUENCE>4
<FILENAME>a2064125zex-10_3h.txt
<DESCRIPTION>EXHIBIT 10.3(H)
<TEXT>
<Page>


                                                                EXHIBIT 10.3(h))


          PriceSmart, Inc.                                        [Memorandum]
          4649 Morena Blvd.
          San Diego, CA  92117
          Tel 858 581-7485
          Fax 858 581-4707


PriceSmart [Logo]


          To:     Bob Gans

          From:   Gil Partida       /s/ GP

          Re:     SALARY INCREASE

          Date:   October 16, 2001


          With reference to your Employment Agreement, this Memorandum will
          confirm that effective September 1, 2001, your annual base salary
          increased by $20,000, to $200,000.


</TEXT>
</DOCUMENT>